March loading programmes had not yet emerged on Tuesday but were expected before the end of the week, while an extra cargo of new grade Egina was added to Nigeria’s February programme. Sahara sold a cargo of end-February loading Nigerian Egina and Phillips 66 was said to be the buyer, traders said. An additional cargo…
Nigeria’s plan to resume distribution of petroleum products through the railways has been put on hold by the federal government’s decision to concession the rail system, the Executive Secretary of the Petroleum Equalisation Fund (PEF), Mr. Ahmed Bobboi, has said. Bobboi said yesterday at a workshop in Abuja that plans by the PEF to introduce…
Petroleum marketing company in Lagos, MOB Integrated Services Limited, is now the largest supplier of Liquefied Petroleum Gas (LPG) in West Africa, delivering over 25,000 metric tonnes (MT) monthly across the sub-Sahara Africa, including Nigeria, Republic of Benin and Ghana. With Nigeria still being an emerging market, which consumes above 500,000 metric tonnes annually, MOB…
Nigeria’s main opposition candidate for president said on Wednesday he would seek to privatise the state oil company and other government assets if elected next month, while removing a costly petrol subsidy, to revive the economy. Atiku Abubakar, a businessman who served as vice president between 1999 and 2007, has promised to double the size…
On Monday, Eskom shared the rationale for its average annual electricity increase application of 15% for three years under the fourth Multi-Year Price Determination (MYPD4) and Regulatory Clearing Account (RCA) balance application for 2018 made to the National Energy Regulator of South Africa (NERSA). Eskom’s executives presented their case to stakeholders attending the Cape Town…
South Africa is aiming to finalise a long-term plan for the country’s energy mix next month, and once that is done it will launch another round of renewable energy deals, Energy Minister Jeff Radebe said on Wednesday. “We are aiming for February,” Radebe told Reuters, when asked when the Integrated Resource Plan (IRP) would be…
Uganda aims to impose financial penalties from March, on its sole power distributor, Umeme Limited, for any frequent and prolonged supply outages, the regulator said. The public has long complained about high tariffs and long power cuts, while unreliable supplies add extra costs to businesses, which often run costly stand-by generators to keep operations going…
Algeria will conclude its deal with Exxon Mobil Corp and set up a trade joint venture with an international company before the first half of 2019, Sonatrach’s CEO said on Monday. “We are very optimistic and things are moving in the right direction so we will conclude with Exxon and have our trade JV,” Abdelmoumen…
The government does recognize it has an enormous task of fostering an environment where investors and small and medium enterprises can succeed JOHANNESBURG, South Africa, January 15, 2019/ — The African Energy Chamber (www.EnergyChamber.org) welcomes the improvement of Equatorial Guinea’s business environment via the establishment of a one-stop shop for setting up businesses in the…
The step is a very positive move, and a sign that Equatorial Guinea’s government is listening to international investors’ concerns JOHANNESBURG, South Africa, January 15, 2019/ — Equatorial Guinea’s one-stop shop became a reality this week, allowing investors and corporations alike to set up a business in sub-Saharan Africa’s fourth largest oil producer in only…